Raleigh Capital Management Inc. Decreases Stock Position in American Express (NYSE:AXP)

Raleigh Capital Management Inc. lowered its position in shares of American Express (NYSE:AXP) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,323 shares of the payment services company’s stock after selling 113 shares during the period. Raleigh Capital Management Inc.’s holdings in American Express were worth $690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mutual Advisors LLC boosted its position in American Express by 5.2% in the 4th quarter. Mutual Advisors LLC now owns 8,259 shares of the payment services company’s stock valued at $2,573,000 after buying an additional 410 shares during the last quarter. Olistico Wealth LLC boosted its holdings in American Express by 1.6% in the fourth quarter. Olistico Wealth LLC now owns 3,825 shares of the payment services company’s stock valued at $1,135,000 after purchasing an additional 62 shares during the last quarter. True North Advisors LLC grew its stake in American Express by 12.4% during the 4th quarter. True North Advisors LLC now owns 1,293 shares of the payment services company’s stock valued at $384,000 after purchasing an additional 143 shares in the last quarter. Wesbanco Bank Inc. increased its holdings in American Express by 16.9% during the 4th quarter. Wesbanco Bank Inc. now owns 4,883 shares of the payment services company’s stock worth $1,449,000 after purchasing an additional 705 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its stake in shares of American Express by 0.6% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 101,324 shares of the payment services company’s stock valued at $30,072,000 after buying an additional 648 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research analyst reports. StockNews.com upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. Evercore ISI upped their target price on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research note on Monday, October 7th. Morgan Stanley lifted their price target on American Express from $252.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their target price on American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $278.09.

American Express Trading Up 1.4 %

Shares of AXP stock opened at $322.48 on Thursday. American Express has a 1 year low of $184.81 and a 1 year high of $322.82. The firm has a market capitalization of $227.17 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.49 and a beta of 1.23. The stock has a fifty day moving average of $300.94 and a two-hundred day moving average of $273.70. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 dividend on an annualized basis and a yield of 0.87%. American Express’s dividend payout ratio is presently 20.60%.

Insider Buying and Selling at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Caillec Christophe Le sold 6,000 shares of American Express stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. The trade was a 48.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

American Express Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.